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The Corporation - Chp 1 Notes

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York University
Social Science
SOSC 1340
Kean Birch

Summary of: The Corporation – Chapter One By: Joel Bakan Mohammad Bilal Siddiqui Introduction to Business & Society TA: Preity Kumar Professor: Kean Birch January 25 2013 Bakan starts off the chapter with the description of a corporation, describing what a corporation is in general, and how it became the world's most dominant economic institution. He makes a prominent point to capture the readers attention by stating the importance of a corporation when he says, “They determine what we eat, what we watch, what we wear, where we work, and what we do” (Bakan, 2004). Bakan talks about the rise of corporations in the past 150 years and have become world changers. Bakan talks about different types of businesses through out history and the frauds that have come from some of them. He mentions the corporations go separate ways rather than partnership businesses. In terms of business ownership from management, Bakan argues, “by having one group of people, directors and managers, run the firm, while another group, shareholders, own it” (Bakan, 2004). He continues to argue
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